Tennessee Code 31-3-103 – Beneficiaries of another person’s disposition of property
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 31-3-103
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Property: includes both real and personal property or any interest therein and means anything that may be the subject of ownership. See Tennessee Code 31-1-101
Where two (2) or more beneficiaries are designated to take successively (by reason of survivorship) under another person‘s disposition of property and there is no sufficient evidence that these beneficiaries have died otherwise than simultaneously, the property thus disposed of shall be divided into as many equal portions as there are successive beneficiaries, and these portions shall be distributed respectively to those who would have taken in the event that each designated beneficiary had survived.